5001 Govane Ave Baltimore MD 21212
Investment Info:
Single-family residence buy & hold investment in Govans.
Purchase price: $70,000
Purchase a turnkey rental from a well known large real estate investor in the Baltimore metro area
What made you interested in investing in this type of deal?
Seller financing and used other financing for 100% financing.
How did you find this deal and how did you negotiate it?
A friend told me about it then I talked directly to the seller
How did you finance this deal?
Seller Financing
How did you add value to the deal?
I had to make a few updates for it to pass section 8 inspection.
What was the outcome?
It is currently rented out to a section 8 tenant.
Lessons learned? Challenges?
It can take ALOT longer to pass a section 8 inspection that you realize. I closed and it took me, 5 and half months to get my first section 8 rent payment. That was with have to spend at least $1-2k in repairs.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Lender, title company.